Profit at Exxon’s exploration and production business fell 12% to $7.76-billion. At its chemicals unit, profit more than doubled to $958 million, and refining earnings were $1.77-billion, up sharply from $425-million a year earlier.

Analysts at Barclays had expected refining earnings of $1.53 billion and a chemicals profit of $786 million.

Shares of Exxon edged up to $90.60 in premarket trading, from Thursday’s New York Stock Exchange close of $89.97.

In Canada, Imperial Oil Ltd, which is majority-owned by Exxon, said fourth-quarter profit rose 7%, helped by higher refining margins.

Earnings rose to $1.08-billion, or $1.26 per share, from $1.01-billion, or $1.18 per share, a year earlier.
Analysts on average had expected earnings of 99 cents per share, according to Thomson Reuters
Revenue fell 4% to $7.8-billion.

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